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back to normal. and between news for the 26 mile new york city marathon will proceed as planned this sunday. >> so welcome back, everybody. the pictures and stories left from the storm's after math are still jaw-dropjaw-dropping. let's begin with scott cohn in lower manhattan. >> larry, hurricane sandy sent about 4 feet of water in the financial district and they think it actually may be a total loss, about $300,000 worth of damage. and they don't know if insurance is going to cover it. you multiply that by thousands of businesses and you begin to get a sense of what the problem is. and then there's the issue of getting around and getting gas. mary thooyor thompson has that . >> people with been waiting in line two to three hours. there's a shortage of power to open other gasoline stations. a lack of electricity plaguing the tri-state area. >> dangerous conditions at the gas terminal which is crucial. workers here trying hard to clean things up, but tough to do so without power. over to jackie deangelis for more on the utility side of things. >> nearly 4.5 million customers stil
from the metropolitan transit authority. that's the agency in charge of mass transit in new york city. look at the destruction there. that is the brooklyn battery tunnel flooded almost to the ceiling there. there's one of the subway stations close by. >>> mayor bloomberg, governor cuomo are touring the damage today and we will be following along with them. >>> now, even if your house an car are okay, what can you do? gasoline supplies are running low for cars and generators. coming up, we're going to map out the system to show you where the real bottleneck, the problems are. >>> and, advice from new orleans to new york. they've been through this before in the port of new orleans. what are the lessons they learned and how can it help here in the new york metropolitan area? >>> sue herera is off today. simon is in and at nyse. >> this is a good rally that we've got on the back of the economic data that came through today in advance, importantly, of tomorrow's employment report. you see this we are off our highs but it is still triple digit. volume is good. the volume yesterday actually
filled with fury, michael bloomberg gave into the criticism and canceled the ing new york city marathon scheduled for this sunday. let's go live to cnbc's brian shactman with the latest. good evening, brian. >> reporter: hi, larry. as late as midafternoon mayor bloomberg was adamant that the race would go on. preparations were moving forward from the equipment to people signing up. but basically the negative momentum swung actually early this morning with the publication of a front-page article in the "new york post" about the huge generators that were being used to power the new york city marathon in central park. there was actually a third generator sitting idle. all three of those could have been used for recovery efforts. well, it exploded on twitter and facebook and eventually public figures came and spoke out against this. this afternoon, later in the day there were meetings and major bloomberg, canceled, didn't postpone but canceled the marathon. here are some of the statements from the mayor's office. while holding the race would not require diverting resources from the recovery
and let me make this thing up close and personal. new york city mayor decided yesterday you needed three people in your car to cross over the east river to get from mat hat tan to brooklyn. you can beat the edict if you crossed over before 6:00 a.m. i set off to find some place to get internet access, electricity and a little wireless. i first tried the new york city stock exchange. they had electricity but that was it. so i started the trek north where i could get back on the grid. i walked a block, then two. and we came upon a park, the site of occupy wall street. i got three bars on the iphone and four bars on the verizon air card and a guy selling hot coffee. maybe they were walking dead post apocalyptic world of scant resources that was lower manhatt manhattan. the surprise came from the chinese purchasing manager's number. a string of disappointing figures from the totally more abundant economy. but we didn't get it. you got your first chinese guide up, not guide down. the best of the year. this was just joyous. no one was looking for this. suddenly i didn't care. here was a number
. >> bill, apparently the show must go on. new york city marathon will still go on despite all the devastation and suffering still happening around new york. a key city official is now breaking ranks from mayor bloomberg and calling for the race to be canceled. he'll join us next. >>> also, don't miss nbc's sandy benefit concert featuring spring seen, bon jovi, christina aguilera among many others. all proceeds will be donated to the american red cross relief earths. that's tonight. you'll find it here tonight on cnbc. in fact, all of the nbc kmachans will carry it beginning at 8:00 p.m. eastern time. stay tuned. aspirin, really? i haven't thought about aspirin for years. aspirin wouldn't really help my headache, i don't think. aspirin is just old school. people have doubts about taking aspirin for pain. but they haven't experienced extra strength bayer advanced aspirin. in fact, in a recent survey, 95% of people who tried it agreed that it relieved their headache fast. what's different? it has micro-particles. enters the bloodstream fast and rushes relief to the site of pain.
'll do a channel check just outside new york city next. wait until you see what's going on. it is absolutely horrible. >>> plus, gasoline tanks running dry. people actually strategizing when and where to fill up in the new york/new jersey area so they can make it to work on monday morning. we'll tell you when relief will be coming on the gas story. >>> speaking of relief, be sure to watch nbc's special concert benefitting victims of sandy. the lineup includes bruce, billy joel, jon bon jovi, christina aguile aguilera, and sting. the action kicks off here at 8:00 p.m. eastern. don't miss it. back in a moment. when you take a closer look... the best schools in the world... see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... they can inspire our students. let's solve this. >>> welcome back. superstorm sandy resulting in something we really haven't seen since the 1
the massive new york city aquarium based in brooklyn. the death toll from the storm nearing the 100 mark. despite the damage in atlantic city, that town's famous casinos are open again and they are conflicting reports about when power will be restored in manhattan. hundreds of thousands still in the dark but con ed hopes to have them back online this weekend. >>> pse&g, new jersey's largest utility, still has 1 million customers without power. the company has 60 switching stations. workers have been scrambling to clean them up. a team at the essex switching station in newark has been working for 48 straight hours. it is painstaking work as you can see right there. >> to the lowest level they're taking every little screw out of a terminal strip, cleaning the terminal strip with a wire brush, cleaning the terminal on the end of the wire with a wire brush, spraying it with oil. spraying it down with oil, wiping it down and reattaching it. >> that's being repeated presumably thousands of times across the entire pse&g and other con ed systems. they expect the station in essex to be back onlin
, that stock's going down. of course they own a big chunk of the borgata in new york city. another miss here for avon products, that stock opening down as well. jim, i just want to let you know that the ceo here, telling me earlier that he believes power may be restored down here or in this immediate area, by tomorrow. if that's true, they could talk off the backup generators although those backup generators have been -- >> the whole way, this place is operating, it was operating before. it was kind of like the walking dead when you came down here a couple of days ago, you felt like the walkers were around but the new york stock exchange. >> i know everybody's talking about china and i bumped into ira harris and what many find amazing is the expectations of their pmi, the one that was bumped at their market h was spot on. they guessed it at 50.2. itch question look at our data this morning, atd it's a bit confusing, i'm looking at the methodology, the revision, but it really takes away some of the thunder, but if you look at a 30-year intraday. you can look at the 8:15 eastern data was relea
in the u.s. we'll head out to new york city later in the show for a preview of what to expect on wall street today. and more than 2,000 hand picked chinese delegates gathered at the great hall of the people to kick off the communist party week long transition. beijing will only officially reveal the next generation leaders thursday. hu jintao promised political and economic reform, but he stressed china won't abandon one party rule and will stick to the socialist path. eunice is live for us. this is his big final speech, so reading in sort of between the lines almost is very telling. it's the legacy he's trying to cath. and what less gassy is that? >> many here believe what he is saying is significant in that it is his final farewell. he really was just reading through the work report to talks about the achievements, the economic and political achievements that the party has had. and also to outline the future challenges. one of the first challenges you had already addressed is the issue of corruption. he said the government needed to do more to root it out. >> eunice, we're having tr
with representative gregory meeks, a democrat from new york city. mr. meeks, welcome and congratulations on your re-election. >> thank you, tyler. good being with you. >> let's talk about the fiscal cliff a little bit. what specifically would you be willing to yield on of the things that are very important to you to help us avoid the fiscal cliff? >> i think that conversation that everything's on the table is on the table. for me, it has to be balanced. we have to make sure that there are some things very important to me, like i'm sure there's some things important to my colleagues. you can't have it i know i have been talking to my constituents and letting them know that pain is going to be on the way but it has to be emquickable pain. for me, i'm with the president. everything is on the table, we have to talk, can't be why where it is one-sided and somebody tells me it has to be all cuts and no revenue. >> has anything, mr. meeks, really changed. ♪ president won re-election, he would say that is a vindication of his position. but at the same time, we have a balance of power here, a tricameral,
" adding to pressure on the stock. "the new york times" reporting that san francisco city attorney dennis herera sent monster beverage a letter saying you need to substantiate your claims that drinking large amounts of monster are indeed safe. he also asked them for evidence to back up their slogan can never get too much of a good thing. m monster has been under pressure. it's been linked to potential deaths of kids who have drank too much of the stuff. monster denies that obviously. still a new story in "the new york times" today about the san francisco city attorney adding pressu pressure on mnst. >> it should be drink monster responsibly or something. >> reporter: i think it's like alcohol -- i don't want to give an opinion on this. the san francisco city attorney is saying, hey, you have a claim that you can drink as much as you want and it's safe, prove it. that's it. >>> the euro hitting a three-week low. will the trend it continue with the election on tuesday? we get to our money in motion segment. camilla sutton joins us from deutsche bank. will the dollar strengthen or be weaker
one hour and an awful lot to to get to. >> new york city still struggling to right itself after monday's super storm. one stap he have the big apple will return, the mta will resume partial subway service on 14 lines. la guardia airport will also reopen at 7:00 a.m. with limited service. amtrak says it will try to restore service to penn station come friday. >> homes in bay ahead are seriously damaged or destroyed. president obama got a firsthand look with governor chris christie yesterday afternoon. >> and danielle lee joins us, she's in the town of toms river. and we know this is one of the hartest hit areas. with you tell us how extensive the damage is? >> all of those popular summertime vacation communities are cut off from society. and there are stand reminders, bits of people's lives ripped to shreds. people here beginning a third day without power. millions of people throughout the state have no power. they are really getting ready to get back to life as normal. many walking around just wanting to get over to the jersey shore, those that have being a straighted, straigh to see w
this neighborhood where i am here in lower manhattan and new york city. once again we're talking about storm surges. as a matter of fact, there are almost no restaurants open down here. when i was walking down to the exchange, it was starting to snow a little bit. the wind is picking up because another nor'easter ishitting the area right now. meteorologist todd gross is tracking this storm. >> this won't be as bad as last week but the snow is a big wild card as i've been telling you for the past couple of days. it is just pushing in right now. you can see it from boston down through new york city to philadelphia. mostly snow, just inland from the coast and mostly rain right on the shorelines. several problem spots. first of all, just south of boston. not only very windy but a big storm surge coming in there later this afternoon. and again at high tide later tonight. also out on the eastern tip of cape cod, out towards nantucket, winds already to 55 miles an hour likely to gust to 60. so some damaging winds there. then there's that new york city vicinity area in terms of the snow. it's a big wild ca
area surrounding new york city. it's becoming a major headache for many commuters in one of the most densely populated areas of the country. mary thompson at a gas station in new jersey where some drivers are waiting up to a number of hours to fill up. >> that's right, bill. all day we've been showing our viewers the long lines that have formed here at the vince lombardi rest stop in ridgefield, new jersey. we've been here since about 4:00 in the morning. since then, there's been a steady stream of cars lined up. it might take you 25 minutes to get gas traveling south. if you're traveling north, it can take you up to two hours, as it did for clarence lewis. >> it's horrible. lines long everywhere. ran out of gas once. survived it. got back on the road. then got up early this morning, like 7:00, to get over here to get gas. >> the reason you can't get gas, gas stations can't get power. without power, they can't pump gas. if they have power, they may not have gasoline because they've sold out and can't get their tanks refilled. that's because the storage terminals are without power too
to fix new york city's broken subway system. millions of people are still without electricity. let's check in with sandy cutler, find out more about the quarter and where his company is headed. welcome back to "mad money." >> thanks, jim, welcome back to "mad money." >> thanks, jim. it's good to be with you this evening. >> i have a customer base that is without power, in other words, eight million people without power. it would seem that the most natural call to make is to this new combined eaton-cooper to get that power back to people's homes. >> yeah, there's no question, jim. it's pretty basic. water and electricity don't get along real well. when you mix it with wind, it leads to terrible conditions people are having right now. we're anxious to help. a lot of our products will be used to getting important connections to people so they've got light and heat and power in their homes. >> i think people don't know the name eaton at home. the people in the industry do. could you tell someone sitting there waiting for power to come on where you intersect with the grid, both cooper a
with new york city subways offering limited service starting today. the m tcta is waiving all fees until tomorrow. so good news there. >> we're looking for any good news so thank you. the eye of hurricane sandy has hit the jersey shore hard. it wiped away entire economies. president obama surveyed the damage with chris christie yesterday. this morning kayla tausche is in toms river, seaside heights. what's it look like there? >> reporter: it's very dark here. we're at the mouth of the bridge which leads over to sea sooid heights, a road only accessible by emergency vehicles and that will be that way for the foreseeable future. but here's the state of sandy recovery in new jersey. the death toll has climbed to 14 in the garden state. nearly 2 million residents are still without power. and over 4,000 people remain in shelters here in new jersey. there's actually a big shelter here nearby in toms river. one of the onlien wog in the state that actually allows pets, so you can imagine how crowded that one is. but here recovery will be a long process. for residents who live here full-time or f
being held. the food bank for new york city so obviously two groups very involved with helping our men and women in services as well as recovery from hurricane sandy. all right. a big week, jim. holding steady here. >> a major rollover. i heard that talk more than i heard in some time. >> you talk about big macro risk on, risk off plays. dollar index above 200 for the first time since september 7th. this notion, jim, that if governor romney wins that the fed serves and bernanke leaves early. do you believe any of that? fed policy pivots around who wins? >> we go back to a tighter money situation. i think that whether you like it or not, there's a lot of people that feel that's good for everything. i think what is such an interesting moment is i always come back to individual stocks. we talk about retail. we talked about housing. these have made major comebacks and those stocks are either at or well exceeded where they were before it began. i think that's a factor of bernanke more than a factor of obama. >> a lot of people said the fed will have to be more clear how they respond to bett
to waste management's facilities right outside new york city, and boy, they have been starved for guys dumping stuff. this is going to be huge for their business. the stock has done absolutely nothing but has a great yield. i say go with waste management. okay, it's all about leadership. not in washington, but in the boardroom! good stocks. i'll help you find them no matter who wins. "mad money" will be right back. >>> coming up, business on the ballot? on the eve of an election, the nation waits to see which candidate will rise to the occasion. cramer's not waiting for anything. tonight, he's breaking down which stocks could be most impacted by the vote. and how to position yourself before polls close. and later, energy opportunity? in the wake of bp's horrific disaster, the company took drastic steps to keep its business from failing. selling off assets at bargain prices. he's got a list you won't want to miss. >>> plus, gain from hain? sending the stock up over 50%. but will the gain soon turn into pain? or can this all natural stock continue to build you healthy returns? cramer is
. >>> president obama in new york city touring the aftermath of new york sandy right now. meanwhile, the first pieces of data that show the economic impact of the storm are coming out. >> i was on a fishing trip on monday out of long island. i got a tour of some of this damage. it's just unbelievable what's happened out there. the docks are moved and the piers one to the other. there's boats in people's backyards. and in its own way, some of that is beginning to show up in the data. this massive storm that hit this huge area of the country. let's take a look at the data. the first thing you'll notice is the surge in jobless claims. the trouble here, folks, is we don't really know what's happening with the underlying trend. it was very well contained going in in the 350, 360 area. is some of that weakness in the overall economy or as the labor department suggests, a big chunk of that from the storm. empire state survey, better than expectations. cpi and food energy not affected yet though there does tend to be a pop in prices after big storms like this. it is the philly fed survey that well und
vian jewelers in new york city. he says that thieves are so brazen, they'll even target jewelers in new york's heavily fortified diamond district. >> they say there are more police officers on the street here than anywhere else in new york, and the reason is, it's not safe to be out here without a police officer. a lot of these guys are retired. look over to the left there. see the guy with the hat on? >> right. >> retired cop, bet you anything there to protect that fedex delivery person. >> turns out he was right. but loebl learned all of this the hard way. in 1999, he was followed leaving a department store in cincinnati. after waving off his police escort, he stopped at this restaurant. when he came out, a van screeched up next to his car. >> how many of them were there? >> five. >> how much did they get? >> they got over $5 million. >> it's a pretty good haul. >> it's a frightening-- it's a frightening haul. >> in 2003, south american gangs were responsible for 195 jewelry robberies, stealing more than $50 million in merchandise. this video, taken from a police helicopter, shows one
to the flooding of new york city's subway system and tunnels. also power outages. new york will bear most of the costs white the rest goes to other states. >> combination of tax hikes and government spending cuts, business groups including fortune 500 ceos and u.s. chamber of commerce affecting the best particles to solve the issue. >> we know your attention is really focused today. one more sorry perhaps you want to leave people with? >> one more story before we go. the bunnies are coming to indiat to leave people with? >> one more story before we go. the bunnies are coming to india to leave people with? >> one more story before we go. the bunnies are coming to india. the country's first playboy club. but no short shorts. the club's operator says the iconic waitress bunny costumes will be redesigneded to meet indian sense abilities. the first clubs will open. >> your focus is short shorts. focus on a different are tkind shorts. the regulations have huge implications. people will be able to know which henk fudge funds have sho and why. >> there will be a lot more jobs discussion. we hope
catherine wild, president and ceo of the partnership for new york city. and deputy chair of the board of the new york fed. cathie, thanks for weighing in here. your reaction to these results tonight? >> well, we're looking forward to getting started on solving american problems. in the next few weeks. in the last week we've proven in new york there is no republican or democratic response to a hurricane. we've worked together to solve that crisis and as you pointed out with speaker after speaker tonight, the crisis facing america on january 1st is the disaster of the fiscal cliff that if we go over it as far as the business community is concerned, that is a permanent stain on america's role in the global economy. we got the notice last week from the g-20 when the heads of finance of the countries of the world stood up and said, america, if you go over this cliff you're going to send us into a double dip recession. we have to make sure we do something about this and we're glad the country can come together to solve a problem of flooding, of a hurricane. we can come together to solve the
'easter. the bull's-eye is on the new york city area once again. the forecasts say it is intensifying and quickly. i'm tyler mathisen. sue herera is back with us. she's at the new york stock exchange. >>> we will get to the markets in just a few moments but first, the weather channel's on the next storm that is about to hit the northeast. i just hope we don't need for the recovery area along the east coast right now but we are looking at a full blown nor'easter in the wednesday to thursday time frame. let me show you one of our computer models here to outline just what's going to happen. talking about a low pressure system developing along the southeast coast here that's going to intensify as it moves northward. by wednesday morning rain and wind in to the new jersey and new york area. then, unfortunately, as we get into wednesday evening, this storm intensifies to a point that we're going to see greater than 50-mile-an-hour wind gusts into the new york city area right along the jersey coast. this green area here, a lot of rain as well. rain, wind, temperatures in the 40s. just really rough for thos
friday, the day after thanksgiving. but for consumers in the new york city area, finding that perfect holiday gift may not be the first thing on their minds. they're continuing to clean up after hurricane sandy. before the storm struck, a majority of chains were fairly confident about the holidays expecting sales to be the same or better than last year. joining us now is executive vice president of the retail council of new york. ted, good morning. we spoke with you last just after the storm. and your sense wasn't clear yet as to what the impact would be. and that ben foit a home dae poe and the other suppliers or would it hurt results for retailers broadly speaking. do you have anymore clarity on the issue today? >> i think going into the holiday season, it's always neb's guess how it will go. this puts such a huge unknown into an already unknowable factor. and i think as you just mentioned as the home improvement stores will probably do a little bit better particularly in the new york city long island new jersey westchester areas, simply because it's a fact of life down there now an
like new york city and down towards philly, probably post-lunch time on wednesday. what we're going to find with this storm system which sticks around through much of thursday and finally starts to scoot away thursday night is that we're going to have some 50 plus-mile-an-hour wind gusts associated with this and we could see potential, this is still subject to range, 2 to 3 inch rainfall amounts along the coastline and snow for the higher elevations. we'll be talking about the berkshires, the adirondacks, again, the highest elevation snow. the low elevation snowfall we leave will be limited. but we want folk to be aware of the rain and wind and coastal e erosion. again here is our case in point system which is very much on the move between today as well as tomorrow. right now not a whole lot happening across the northeast. it's going to be a sunny but cool day with p its till running about 10, 12 degrees below average. meanwhile in the west, it's a huge temperature divide while much of the east coast is seeing the cool temperatures. the west is very warm with 10 to 20 degree above
in new york city. more than 50 million viewers expected to watch the parade tomorrow morning. yeah, this is part of the traffic nightmare out there right now. stay with us. >>> time to toast today's close with this. will the earliest thanksgiving in five years affect the number of shoppers looking to jump start their holiday shopping on black friday weekend? we'll tell you next. [ male announcer ] trading's like a high-speed train. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track. thinkorswim by td ameritrade. trade commission free for 60 days, plus get up to $600 when you open an account. >>> to toast today's market close, we asked, how many americans will be shopping this thanksgiving weekend? 147 million. that's down a little more than 3% from last year according to the national retail federation. close to 79 million people plan to stay home this year avoiding
. >>> next, the amazing story behind the sale of a $54 million new york city apartment. yes, one apartment. $54 million. >>> and there are two things it doesn't do much good to watch on your dvr. live stock market coverage and also sports coverage. that's why two of the biggest names in media, sports and entertainment, may be about to do a deal. julia. >>> i'm julia boorstin. rupert murdoch and news corp. making a play for the new york yankees cable network. that's not all though. there's a bigger plan in the works. i'm tell you what it is next on "power lunch." >>> if congress fails to save the u.s. economy from the fiscal cliff, the epa will face a budget cut of over $716 million in 2013 which is $105 million less than the agency's current 2012 level. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the command
in new york city. to find out where they stand on the fiscal cliff and the economy. here's what they told her. >> everyone is concerned all around the world. i think it's going to take -- and i'm not an economist, but listening to what everyone says, people i have great respect for -- it's going to take time and so much depends on what happens in europe and in asia and it's not just what happens in the u.s. but i still think that shouldn't discourage people from wanting to succeed and i think they have to be confident that you can do well even in tough times. >> i think we're always a bit scared about where the economy is globally and i think i'm not different from that. we just hope that it gets back on the right track and hopefully that's where it's going. >> i think it really causes the entrepreneurial spirit to thrive because people are no longer looking at the old mechanisms and the old ways that people are worried about wall street so they're not looking at wall street as a road. when they're thinking about finance, they're thinking about it in other ways. when they're thinking abou
. >> he's new york city. >> he just endorsed obama. but to say i'm endorsing obama because of sandy and climate change it's totally irresponsible. the intergovernmental panel, blah, blah, blah, on climate, they would never tie a single event to try to do that. it's ludicrous, it's embarrassing for him to do that. it's just clearly to me anyway i think he's jumped the shark with the 16 ounce but you go back again with the third term. i thought he was going to run for a third term so he might come back, too. >> when we return we'll talk more about the road to recovery. for some it's waiting for hours in line for gasoline to keep their cars and generators running. we'll talk to one observer the potential crisis the east coast could have growing right now. >>> as we inch closer to the october jobs report mark zandi will join us for the countdown as our guest host for two hours today. "squawk box" returns after this message. >>> the countdown is on. it's the final employment report before the election, and we are on the job. get the pick from our experts on what the numbers could mean fo
stocking stuffers. a look at apple's flagship store in new york city. it looks like an average day, right? stick around for more on the ho hottest gadgets for holidays and bulls rule near the holiday season in 2011. can we expect another santa claus rally this year? more "squawk on the street" more "squawk on the street" coming right back. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. [ male announcer ] good choice business pro. good choice. you know it can be hard to lbreathe, and how that feels.e, copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does bo
. if you live in new york city, federal, state and city taxes will take you down to $223 million. so you keep 57%, you give uncle sam 43%, you still have the $223 million bucks. it's a pretty good deal. but let me just ask you, do any of us know really what the government does with that money, especially the city government? and does it really go for good education purposes, as they say? and is there any bureaucratic skimming off the top? the winner loves this game, always does, but how about the rest of you? please think about it. there may be better ways to invest your money. >> moving right along, did the president really resolve key questions on tax rates and spending and entitlements at his campaign rally today? i never heard the word spending? so how close to a deal are we really? i'd like to be optimistic but i'll warn you, caveat emtore. we'll get into that next. [ female announcer ] if you care for someone with mild to moderate alzheimer's, you'll also care about our new offer. you get access to nurses who can help with your questions. and your loved one can get exelon patch fre
.s. government for at least 30 billion in aid to help new york city and other areas recover from hurricane sandy. the new york sometimes suggest cuomo aids suggest the state needs more than 3 billion just to repair bridges, tunnels, subway lines. sandy is has estimated to have cost more than $50 billion in damage. president obama is expected to view the recovery efforts on thursday. lk ahead martin's incoming ceo has resigned after he had a close personal relationship with a subordinate. he will now be replaced by huson who will take on the role of acting president and coo. all three major defense contractors have women at the helm. lockheed martin stock flat. >>> and aeg is teaming up with stub hub. aeg is the owner of more than 100 venues worldwide including the staple center los angeles. starting next year, customers shopping for tickets on the service will be able to buy or sell them through stub hub, and online ticket resaler. stub hub charges commissions on each sale and the stock in frankfurt down around a third of a percent. >>> and president obama will be doing a lot of talking about th
've seen the devastation in shore areas. you've seen it. think about new york city and manhattan being swamped. >> you remember hurricane andrew which flattened homestead down in florida. there were parts of new jersey and long island that look like that. >> not nearly the size -- houses down there were $150,000 a piece. the homes that were destroyed up here were millions of dollars a piece. >> that's what i'm saying. it's much more money. >> the other difference is in new york there's not a lot of moral hazard that you worry about in the sense of people weren't building homes in the wrong places. >> a terrific comment. there had not been a storm there in decades and decades and decades. it's another thing in florida on the coast. there were counties i found along north carolina that have fema money on top of fema money from the prior storm on top of fema money. that's not the case in new york. >> three storms hit new york in 1954. all of them twice as big as the one that just hit three in one year. >> i don't want to give you a nodule but people are making a leap with global warming t
at queens center mall here in new york city. we also have liz dunn of mcquarry capital on the west coast in san francisco. great to have you all with us. laura, why don't i get to you first of all. what are you seeing out there on the floor of the malls? >> so traffic's slowing a little bit which is normal for the afternoon. i think that most of the traffic -- most of the big buys were for electronics and toys. those happened last night. they may be happening online more and more. but the mall's bit slow, we think, relative to a year ago. >> do you think people came in earlier with all of these earlier openings that we've been hearing about? do you feel maybe that's just drifted off a little bit as everyone's now done their shopping and gone loam to bed? >> i'm pretty sure that that is what has happened here. you don't normally see -- this is an urban mall in queens. i would not judge the rest of the country by this particular mall. most of the estimates were about 2.5% growth on top of 4% last year. that looks reasonable to us and it is pretty consistent with what we're hearing in other
. that's a lot of money especially new york state, new york city taxes over 52%. then i'd take that giant check and bring it to washington. you know they have that ad campaign, yeah, that kind of rich? that kind of check is that kind of rich. >> gentlemen, thank you very much. sue, down to you. i wonder what sue would do? >> i would pay for the three college educations that i'm going to have to fund all at the same time. that would be the first thing i'd do. there's a lot of good that you could do with that money. who knows? good luck to everybody who's got a ticket. >>> coming up in the next hour, the recovery road trip kickoff. day one of a three-day tour of the top cities for stocks. "street signs" reveals the number three mystery city straight ahead. we're back in a minute with a market update. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. [ female announcer ] today, it's not just about who lives in the white hou
, superstorm sandy may have devastated new york city, but turnout is heavy in queens, new york, as voters cast their ballots in makeshift polling locations. been like that in many parts of the tri-state area today. we're back in a moment. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to independent tdd#: 1-800-345-2550 firms like ned davis research t
in new york city and he is down on the floor of the new york estock exchange. >> a mucky day. not since 2008 has it been so high. more evidence the housing recovery is taking root. prices rising in the big cities but a warning we may head into a recession next year if the u.s. and europe don't solve their fiscal messes. right now the dow industrials a built of a breather down 21 points. >>> meanwhile, 34 days to the fiscal cliff. will a deal be done in time? today, president obama meets with small business leaders to make his case for the possibility of higher taxes ahead. our washington correspondent, john harwood, is here with the very latest. hi, john. >> reporter: hi, tyler. you know, everybody is staking out public positions and trying to drive public opinion their way. the president's been doing that all week. he is doing that with his meeting at 2:30 this afternoon with small business leaders from around the country. he is later going to travel to pennsylvania to make his case publicly, part of what he is saying is that if you adopt his plan on the extension of the bush tax cuts
. >>> then, gas lines snaking down highways and around city blocks in new york and new jersey. an energy pro up next tells us how long it could last. >>> as we take a break, here are some sobering before and after pictures of the damage on the jersey shore. stay with us. ♪ chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you could save. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. >>> welcome back. just after the bell, insurance giant aig came out with third quarter as a results, both earnings as well as revenue beat expectations. the stock coming under pressure in the after hours trading session. we should note these results do not include the effects of supersto
takes half the cars out of the gas lines each day, that system's working so well in new york city and the long island counties are mandating odd/even beginning friday. one more sign of sandy's impact. new york governor andrew cuomo estimates the damage in his state, alone, at $33 billion. cuomo assailed the power companies. he called for a ground-up redesign of the power and fuel supply systems. but i think what he ought to do is open the door to some deregulation and free market competition. this especially for the power companies. let the marketplace work, governor cuomo. you'd have better results during emergencies or nonemergencies. >>> anyway, coming up here, president obama wasn't the only big winner on tuesday night. the polling industry kind of nailed it. top pollster ed gullas is up next. ♪ [ male announcer ] a european-inspired suspension, but not from germany. ♪ a powerful, fuel-efficient engine, but it's not from japan. ♪ it's a car like no other... inspired by a place like no other. introducing the all-new 2013 chevrolet malibu, our greatest malibu ever. ♪ we
important that you work with advisers who are used to handling the money you have. >> the new york city doorman who won the money and took the swedish girl to atlantic city was a bad idea. >> it will not last that long if we go down that route. >> thank you very much. >> if you can't buy a convertible and get a pretty girl what is the money for? >> my thought exactly. >>> what are moving your investments first thing tomorrow morning? sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. fifteen minutes could save you fifteen percent or more. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over
, what $20 billion, i think -- or at least near that is what at least in new york city what the cost could be. >> sure, and, you know, frankly there's something that i always find a little bit -- a little iffy about the lottery, which is that the people who play by and large are on the lower end of the income scale. poor people pay the lottery more, but that money goes to fund services people in the middle class like education. it actually seems to me like a little bit of a better outcome if we are going to assume that still poor people are buying a lot of these lottery tickets. >> don't a lot of these states, though, the way they sell a lottery in the first place is don't worry all the money's going for education. of course, people don't realize money's fundable, so they take from somewhere else. it doesn't increase the amount on education, but don't a lot of states have in the constitution, change the constitution in order to achieve what you want to do, right? >> that's true. and you're right to say this notion that somehow lottery money is like magical and can only go to educatio
of the amazing totals. one of the earliest snowstorms in the new york city vicinity ever. it's just one week after sandy. eight inches in queens. 13 inches in frehold, new jersey. big snowfall totals. the snow is on the trees and the trees came down. that's why the additional power outages. but if we take a look at the radar, this is all kind of breaking down at this hour. the actual storm center is not far from nantucket where they had winds to 65 miles per hour. notice how the precipitation is kind of breaking up and winding down. the storm center is almost done. that's right, we're almost done with this one. now let's talk about the next one. it is brutus and it is going to affect the northern rockies in the next several days with 6 to 12 inches of snow. northern montana, blizzard warning but overall the united states undergoes a warming trend in to the week ahead. >> i'm going to take that as a silver lining, todd. thank you very much. >>> let's turn to the markets now. we've erased our earlier gains. one day after the dow's largest drop this year, the dow is down 62 points on the sessio
of digital operations and his family were the victims of incomprehensive crime. in new york city the family held a private memorial service for their two young children who died on october 25th. many of you have reached out to the family and to cnbc to express your condolences. we deeply appreciate your thoughtfulness. many of you asked how you could help. a fund has been established in lulu and leo's names to honor their love of arts and sciences. the proceeds will go to support educational art and science programs for youth. if you would like to contribute, you can logon to our hearts and prayers remain with the krim family. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 dire
payouts on insured losses. mayor bloomberg just this afternoon also estimated the losses for new york city alone, economic activity and government at $20 billion alone. this may be -- remember, initially it was estimated at $50 billion event. maybe it's more like $75 billion or $100 billion. just a warning to investors, there's a lot of data coming up this week that's affected by sandy. if you take a look tomorrow, durable goods could have a sandy effect in it. new home sales thursday, you have jobless claims. again, a sandy effect in there. and the challenge for those playing the short term is to disaggregate, what's sandy and what's the real economy and after that figure off the fiscal cliff. >> all of that feeds into what you were saying, bill, expect a lot of volatility. the sandy effect will make it harder to decipher what's going on with the economic data. >> and the economic data is going to be skewed by mother nature, by politicians, a lot of things. you need a longer view, more than four weeks -- >> what's your view right now? >> cautious. but have you to be invested. you can't si
from new york city. david? >> that's tyler. hewlett-packard reporting earnings this morning, that was not the focus for investors, the company alleging it was defrauded by autonomy to the tune of $5.3 billion when it bought that company in october of 2011 for $11.1 billion. that 5.3 part of an overall part of an 8.8 billion write-down related to that autonomy acquisition. certainly not a good one. now you it was last may that an insider, a senior insider from autonomy, spoke up, essential lay whistleblower inside hp and said, hey, you know what, now that management has gone,ing me whitman just fired the management of autonomy, now they are gone, i want to alert you to some accounting improprieties, revenue recognition issues and an investigation ensued. what did they find? according to hp, they did things like selling hardware at a loss to supplement revenues but treated the costs of selling that as a marketing. so margins weren't affected. they actually gave money to value edit resellers to buy their software products making look like they had much stronger sales to omms th
developer tishman speyer defaulted on the huge $5.4-billion stuyvesant town apartment complex in new york city when its value fell by nearly half, making it one of the biggest walk-aways in real estate history. it's a trend the banks fear could catch on with average homeowners. no bank we contacted would talk publicly about strategic defaults, but all indicated they'd be unwilling in most cases to help underwater homeowners who can afford to keep up their payments. and commissioner stevens agrees with the banks. >> to simply allow anybody who just decides they don't want their home anymore, who signed a contract to purchase a home, to walk away and get some sort of write-off with a program backed by the administration or a financial institution creates a whole new set of standards that will live with us for years to come. the question is, who pays that bill? >> for now, that bill is being paid by people like businessman tom hansen of scottsdale, arizona. he bought his dream house on gold dust avenue five years ago. much of the gold has evaporated, and he is left with a pile of dust. >> i
faber has an exclusive interview with ceo randall stephenson live from new york city. futures look weak down 1/14. "squawk on the street" live from post nine is back in a minute. i was in the ambulance and i was told to call my next of kin. at 33 years old, i was having a heart attack. now i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. i didn't know this could happen so young. take control, talk to your doctor. ♪ welcome to the world leader in derivatives. welcome to superderivatives. >>> president obama enjoying an election victory. phil lebeau joins us from mccormick place in chicago where the speech took place talking about the mood there today and the hard work begins again. >> reporter: it will be interesting to see over the next couple of weeks besides the fiscal cliff what else do we hear from the obama administration in terms of priorities for the second term? as you mentioned, it was just a few hours ago that the president came out and gave his victory speech and even though he did not win all of the swin
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